Chinese investors flock to newly-launched funds targeting Ant IPO

SHANGHAI: Chinese investors are pouring into newly-launched mutual funds targeting Ant Group’s upcoming initial public offering, underscoring strong demand for technology shares at a time when Chinese tech firms are facing increasing US scrutiny. Alibaba Group’s fintech arm Ant Group aims to raise about US$35 billion in a dual listing in Hong Kong and Shanghai’s STAR Market, expected in October, in what could become the world’s largest IPO. Advertisement Advertisement Two of the five new funds launched on Friday (Sep 25) to give Chinese retail investors access to strategic stakes in Ant’s IPO had already reached their fundraising target and…